THE FARMER'S MAGAZINE. 



459 



REVIEW OE THE CORN TRADE 



DURING THE PAST MONTH. 



March closed with a heavy snow-storm and 

 most unusual severity, and the close of the first 

 week in April brought in the temperature of mid- 

 summer, a difference of from 20 to 76 degrees 

 being experienced in one week. Since then there 

 has been a return to frosty nights and cold 

 winds, and finally an abundant fall of rain, and 

 mild atmosphere. These extraordinary changes 

 have greatly damaged the wall-fruit and pears, but 

 generally vegetation has borne the fluctuations 

 well, and the corn has appeared uninjured; in 

 fact, the growing wheat is almost too forward and 

 rank, as the consequence of the previously mild 

 weather. The apprehensions of drought have now 

 greatly diminished, but the fall of rain is yet 

 considerably in arrears, as is still testified by the 

 lowness of the reservoirs and wells. The long con- 

 tinued dulness in the wheat trade has at last given 

 place to an active trade, the higher prices paid 

 in Portugal, Spain, Algeria, Egypt, and America 

 having gradually brought on a foreign demand, 

 which, though moderate in its character, somewhat 

 increased the value ; but the late warlike rumours 

 in Europe, pointing with an alniost certainty to this 

 dire calamity, have greatly accelerated the upward 

 movement, and this grain in the course of the 

 month has advanced 4s. ta 5s. per qr., with less 

 disposition on the part of holders to quit their 

 stocks. The effect of the superabundance of 1857 

 indeed now appears to be gradually subsiding, the 

 low prices thence ensuing having caused a very 

 lavish use for cattle feed beyond the consumption 

 of a growing population, while the quotations in 

 Northern Europe, and even Odessa, left no margin 

 for profitable shipments to Great Britain. It is 

 true there have been steady imports for a long 

 period ; but very few of them have so much as 

 realized cost price, while many have been to a sadly 

 losing account. Negotiations seem yet possible 

 in the political horizon ; but even with peace in 

 prospect, we do not apprehend a serious decline, 

 while with an European war at all protracted 

 there might be a considerable enhancement. The 

 condition also of the English wheat being gene- 

 rally improved, will make it more fit both for the 

 mill and speculative purposes ; while foreign stocks 

 are by no means heavy, and some holders have 

 already entirely withdrawn their samples from 

 market, in expectation of better prices. Hitherto 

 the crops in Germany, Russia, Holland, Belgium, 



France, Algeria, and the Principalities of Wallachia 

 and Moldavia have been well reported ; but it has 

 been otherwise in Southern Europe, as Spain, 

 Portugal, and Sicily have been threatened with 

 drought. Free imports are, therefore, again per- 

 mitted in the two latter countries, and the same 

 permission is shortly expected in Spain, the price 

 of flour at Marseilles being already improved by 

 the expectation. In America, too, the absence of 

 snow is said to have been very injurious to the 

 wheat plant, and a deficiency in the general yield 

 may be the consequence. Stocks all over the 

 world (appear but small, and it is very probable 

 that British farmers hold more than is stored in 

 foreign parts. The effect of the late rise in this 

 country is yet to be seen abroad ; but the prices 

 in several places, before it was known, were as 

 follows :— The cheapest markets were those of 

 France, fine wheat being yet only quoted at about 

 40s. at Paris; but at the shipping port of Nantes 

 the market had risen by the Portuguese demand, 

 and rates were uncertain, several shillings being 

 asked over former rates, 36s. and 37s. At Ant- 

 werp the quotation for native white was 43s. 6d. 

 Louvain was moving up, with 45s. asked for fine 

 red ; and all the Belgian markets began to be in- 

 fluenced by warlike rumours. At Amsterdam fine 

 Polish wheat obtained 55s. Mecklenburg red at 

 Hamburg was held at 47s., and 62lbs. Rostock 

 quoted 44s. Gd, At Berlin and Konigsberg top 

 prices remained 49s. At Dantzic nothing fine 

 could be had under 52s. per qr. Odessa was tend- 

 ing upwards, and a large business in wheat trans- 

 acted, the best Polish making 42s. per qr. At 

 Alexandria stocks were scarce, and the low 

 Saide wheat was bought by Government at 29s. 6d., 

 the identical price it had been bringing off" the coast 

 here. Trieste was short in stock, and fine Banat 

 and Romagna wheat was worth 46s. 6d. In Alge- 

 ria native hard wheat had brought 57s. 6d. from 

 its scarcity, and the smallness of stocks was felt all 

 along the coast. At Lisbon, soft wheat was worth 

 55s., and hard Seville wheat at Barcelona had 

 brought 66s. to 70s. Many districts in North 

 America were very destitute, and New York prices 

 had occasioned some shipments hence as well as 

 from France, led southern and Tennesse being 

 worth 50s. per qr. of 4S0lbs, and wliite Kentucky 

 65s. ; but the last accounts were dull at these 

 rates. 



